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Penske builds stake in UnitedAuto Group

UnitedAuto Group(UAG) the owner of the Sytner group, is now nearly half-owned by Penske Corp.

Penske Corporation has just purchased 357,123 more shares in UAG, the USA's second largest publicly traded automotive retailer and owner of over 120 US franchises and 71 internationally, mostly in Britain. The additional holding brings Penske's stake in UAG to 45.9%. Since 1999, Penske Corporation has invested over $212 million in UAG. Penske Corp. is a diversified but wholly automotive business founded by former racing driver Roger Penske.

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